Fed raises interest rates for third time this year

ABC NEWS– The Federal Reserve aggressively raises interest rates again, the third time they’ve done that this year. The move is an attempt to bring down record-high inflation, but it’s expected to have an immediate impact on how much Americans will have to pay to borrow money. It is already sparking fears of a possible recession, or worse, stagflation.

ABC’s Jay O’Brien has the details.

Categories: National News